Bank of New York Mellon Corp boosted its position in shares of The Madison Square Garden Company (NYSE:MSG) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,849 shares of the company’s stock after buying an additional 1,667 shares during the quarter. Bank of New York Mellon Corp owned 0.28% of The Madison Square Garden worth $14,099,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MSG. Janus Henderson Group PLC bought a new position in The Madison Square Garden during the second quarter valued at about $75,632,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in The Madison Square Garden by 1,731.6% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 146,583 shares of the company’s stock valued at $28,862,000 after buying an additional 138,580 shares in the last quarter. Renaissance Technologies LLC boosted its stake in The Madison Square Garden by 100.0% during the second quarter. Renaissance Technologies LLC now owns 227,800 shares of the company’s stock valued at $44,854,000 after buying an additional 113,900 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in The Madison Square Garden by 45.8% during the second quarter. Goldman Sachs Group Inc. now owns 172,447 shares of the company’s stock valued at $33,955,000 after buying an additional 54,191 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in The Madison Square Garden by 931.2% during the second quarter. Ameriprise Financial Inc. now owns 59,604 shares of the company’s stock valued at $11,739,000 after buying an additional 53,824 shares in the last quarter. 71.26% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on MSG shares. ValuEngine downgraded The Madison Square Garden from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Morgan Stanley downgraded The Madison Square Garden from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $218.50 to $245.00 in a research note on Tuesday, December 5th. Loop Capital increased their price objective on The Madison Square Garden from $266.00 to $268.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. BTIG Research set a $260.00 price objective on The Madison Square Garden and gave the stock a “buy” rating in a research note on Monday, September 11th. Finally, Zacks Investment Research downgraded The Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The Madison Square Garden presently has a consensus rating of “Hold” and an average target price of $217.78.

The Madison Square Garden Company (NYSE:MSG) opened at $213.97 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.04. The Madison Square Garden Company has a fifty-two week low of $166.86 and a fifty-two week high of $231.44.

The Madison Square Garden (NYSE:MSG) last issued its quarterly earnings data on Friday, November 3rd. The company reported ($0.47) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.18. The business had revenue of $245.04 million for the quarter, compared to analyst estimates of $237.06 million. The Madison Square Garden had a negative return on equity of 1.75% and a negative net margin of 4.00%. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.19) EPS. equities analysts anticipate that The Madison Square Garden Company will post 0.66 earnings per share for the current year.

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About The Madison Square Garden

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

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Institutional Ownership by Quarter for The Madison Square Garden (NYSE:MSG)

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